Global Net Lease (GNL) Proxy filing summary

Executive summary

• Achieved a 32% total stockholder return in 2025, outperforming net lease peers and reflecting successful execution of a multi-year transformation strategy.

• Completed $3.4 billion in asset sales, including a $1.8 billion multi-tenant retail portfolio sale, repositioning as a pure-play single-tenant net lease REIT.

• Reduced net debt by $2.2 billion and refinanced the revolving credit facility, leading to credit rating upgrades to BBB- (Fitch) and BB+ (S&P).

• Exceeded revised 2025 AFFO guidance with $0.99 per share and achieved 66% of annualized straight-line rent from investment-grade tenants.

• Repurchased 17.2 million shares for $136 million, balancing capital allocation between share buybacks and deleveraging.

Voting matters and shareholder proposals

• Stockholders will vote on: (1) election of eight directors, (2) ratification of PwC as independent auditor for 2026, (3) non-binding advisory vote on executive compensation, and (4) other business as may arise.

• Board recommends voting FOR all nominees and proposals.

• Stockholders may submit proposals for the 2027 annual meeting by December 8, 2026.

Board of directors and corporate governance

• Board currently has ten directors, with eight nominated for election; seven are independent.

• Board committees include audit, compensation, nominating and corporate governance, and finance.

• Recent governance enhancements include empowering stockholders to amend bylaws and adding new independent and diverse directors.

• Code of Ethics and Corporate Governance Guidelines are in place and publicly available.